Today, President Trump again took to Twitter to accuse Amazon of paying “little or no taxes.” His tweet sent the stock down about 4 percent this morning as investors feared Trump could raise taxes on the e-commerce company or try to break it apart.
But, just a few hours later, the stock has recovered and is up about 1 percent today. In fact, that’s the recurring theme to any Trump-induced stock plunge for Amazon. After it falls, it always recovers, either within a few hours, or up to a month at the longest count.
In the past year, Amazon’s average daily price change has been about 0.3 percent, according to FactSet, so sending the stock down several percentage points is a big drop. However, the fall is usually short-lived, like today:
I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!— Donald J. Trump (@realDonaldTrump) March 29, 2018
As you can see, after this morning’s tweet, Amazon stock came back up to pre-tweet levels at around 1:30 pm ET.
(Yesterday, there was another Trump-induced Amazon stock plunge after a news report outlined his obsession with reining in Amazon. That sent the stock down about 5 percent, but, technically, that wasn’t a tweet.)
Below is a look at some of Trump’s other tweets about Amazon and how the stock has behaved in their wake. It’s important to note that there are lots of other things going on in the world besides Trump’s tweets that could affect the stock, but the president certainly has an impact.
Why is the United States Post Office, which is losing many billions of dollars a year, while charging Amazon and others so little to deliver their packages, making Amazon richer and the Post Office dumber and poorer? Should be charging MUCH MORE!— Donald J. Trump (@realDonaldTrump) December 29, 2017
Amazon is doing great damage to tax paying retailers. Towns, cities and states throughout the U.S. are being hurt - many jobs being lost!— Donald J. Trump (@realDonaldTrump) August 16, 2017
Is Fake News Washington Post being used as a lobbyist weapon against Congress to keep Politicians from looking into Amazon no-tax monopoly?— Donald J. Trump (@realDonaldTrump) July 25, 2017
The #AmazonWashingtonPost, sometimes referred to as the guardian of Amazon not paying internet taxes (which they should) is FAKE NEWS!— Donald J. Trump (@realDonaldTrump) June 28, 2017
In general, these tweets seem to have no lasting effect on Amazon’s stock price. In the last 12 months, the stock has climbed 67 percent:
This article originally appeared on Recode.net.